Abdiel Capital Advisors, Lp Sells 100,665 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 100,665 shares of the firm’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $32.67, for a total value of $3,288,725.55. Following the completion of the transaction, the insider now directly owns 9,514,401 shares of the company’s stock, valued at approximately $310,835,480.67. This trade represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Abdiel Capital Advisors, Lp also recently made the following trade(s):

• On Friday, May 16th, Abdiel Capital Advisors, Lp sold 164,000 shares of Appian stock. The stock was sold at an average price of $32.66, for a total value of $5,356,240.00.
• On Thursday, May 8th, Abdiel Capital Advisors, Lp sold 140,050 shares of Appian stock. The stock was sold at an average price of $31.96, for a total value of $4,475,998.00.
• On Wednesday, April 16th, Abdiel Capital Advisors, Lp sold 5,103 shares of Appian stock. The stock was sold at an average price of $27.02, for a total value of $137,883.06.
• On Monday, April 14th, Abdiel Capital Advisors, Lp sold 33,000 shares of Appian stock. The stock was sold at an average price of $27.11, for a total value of $894,630.00.
• On Friday, April 11th, Abdiel Capital Advisors, Lp sold 29,971 shares of Appian stock. The stock was sold at an average price of $27.04, for a total value of $810,415.84.
• On Wednesday, April 9th, Abdiel Capital Advisors, Lp sold 34,943 shares of Appian stock. The shares were sold at an average price of $28.08, for a total value of $981,199.44.
• On Friday, April 4th, Abdiel Capital Advisors, Lp sold 78,528 shares of Appian stock. The shares were sold at an average price of $26.49, for a total value of $2,080,206.72.
• On Wednesday, April 2nd, Abdiel Capital Advisors, Lp sold 57,975 shares of Appian stock. The shares were sold at an average price of $29.52, for a total value of $1,711,422.00.

Appian Stock Down 0.3%

Appian stock opened at $32.15 on Wednesday. The stock has a 50-day simple moving average of $29.65 and a 200 day simple moving average of $33.26. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of -25.52 and a beta of 1.83. Appian Co. has a 12-month low of $24.00 and a 12-month high of $43.33.

Appian (NASDAQ:APPN) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. The firm had revenue of $166.43 million during the quarter, compared to analyst estimates of $163.27 million. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The company’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the company earned ($0.24) earnings per share. As a group, sell-side analysts anticipate that Appian Co. will post -0.28 EPS for the current year.

Analyst Ratings Changes

APPN has been the subject of a number of analyst reports. Morgan Stanley lifted their price objective on Appian from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Friday, May 9th. DA Davidson lifted their price objective on Appian from $28.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Barclays lifted their price objective on Appian from $28.00 to $33.00 and gave the company an “underweight” rating in a report on Friday, May 9th. Citigroup lifted their price objective on Appian from $40.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Finally, Scotiabank cut their price target on Appian from $37.00 to $34.00 and set a “sector perform” rating for the company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Appian presently has a consensus rating of “Hold” and a consensus price target of $36.29.

Institutional Trading of Appian

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APPN. Point72 Hong Kong Ltd bought a new stake in shares of Appian in the 4th quarter valued at about $35,000. Canada Pension Plan Investment Board increased its stake in shares of Appian by 27.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock valued at $76,000 after acquiring an additional 500 shares during the last quarter. Concord Wealth Partners increased its stake in shares of Appian by 21.7% in the 1st quarter. Concord Wealth Partners now owns 2,581 shares of the company’s stock valued at $74,000 after acquiring an additional 461 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Appian by 1,244.8% in the 4th quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company’s stock valued at $125,000 after acquiring an additional 3,498 shares during the last quarter. Finally, Headlands Technologies LLC raised its holdings in Appian by 2,052.0% in the first quarter. Headlands Technologies LLC now owns 4,218 shares of the company’s stock worth $122,000 after purchasing an additional 4,022 shares during the period. 52.70% of the stock is currently owned by institutional investors and hedge funds.

About Appian

Appian Corporation, a software company that provides low-code design platform in the United States, Mexico, Portugal, and internationally. The company's platform offers artificial intelligence, process automation, data fabric, and process mining. It provides The Appian Platform, an integrated automation platform that enables organizations to design, automate, and optimize mission-critical business processes.